This week, Bitcoin price staged another recovery mission, extending the gains from support at $33,000 to highs around $39,000. Investors anticipated a break above $40,000, but the rejection has led to an ongoing retreat. The pioneer cryptocurrency trades at $37,800 while holding dearly to the 100 Simple Moving Average (SMA). It is almost certain that the bearish...
Dogecoin has since mid-this week spiked incredibly, allowing bulls to regain some of the ground lost in May's massive cryptocurrency crash. Dogecoin dropped to $0.21 before making a brief recovery, stepping above $0.4. However, it retreated and remained relatively consolidated between $0.28 and $0.35. Coinbase Pro adding support for trading DOGE was a breath of...
Bitcoin is relatively in a no-trade zone at the time of writing. The sideways trading has seen the cryptocurrency dance around $37,000 for several days. Price actions toward $40,000 have diminished, while the immediate support at $36,000 appears vigorously defended. Meanwhile, it is vivid enough to see the formation of a pennant pattern. This is both a reversal...
Ripple scaled several resistance levels after the drop to $0.8 last week. The upswing coincided with another win bagged by Ripple Lab attorneys against the Securities and Exchange Commission (SEC) in the ongoing lawsuit. The US SEC was seeking access to Ripple's communication records when it inquired about the sale of XRP tokens. Judge Sarah ruled to uphold...
Cardano has been nurturing an uptrend since the initial downswing to $1 in May. The first recovery attempt almost brushed shoulders with $2, but another correction ensued almost immediately. The cat and mouse game continued between the bears and the bulls, with the resistance at $1.8 capping movement. On the downside, bulls have kept growing more assertive,...
Ethereum dipped twice under $2,000 in May amid the bears’ showdown. The declines extended from an all-time high of $4,400 while bulls failed to secure higher support, culminating in the downswing to $1,750. In the wake of the bearish price action, Ethereum lifted above $2,000 and closed the gap toward $3,000. However, seller congestion at $2,900 coupled with a...
Bitcoin recently tested support at $33,500 following another rejection from $40,000. The largest cryptocurrency by market capitalization has lost more than half of its value from the all-time high of $65,000 in May. As the new month begins, investors hope that BTC will turn a new leaf and gain a significant amount of the lost ground. However, recovery toward...
Cardano immediately swung into recovery following the massive dip to $1. The upswing was sharp and consistent but hit a barrier at $1.8, which curtailed the planned strike past $2. ADA had traded all-time high highs around $2.5 in mid-May. In the meantime, the upcoming smart contract token is trading at $1.66. Marginally beneath the prevailing market value, ADA...
Bitcoin’s lock-step trading is becoming more or less mundane. The inability to lift above $40,000 appears to be exhausting buyers. On the other hand, most attention is directed toward defending support at $37,000. Meanwhile, the flagship cryptocurrency trades slightly above $38,000. The primary goal is to support the 50 Simple Moving Average (SMA) on the...
Ripple remarkably cleared the path to $1 after the nerve-shattering breakdown to $0.65. Moreover, the price lifted to $1.07 before losing momentum. On Wednesday, the primary battle was to keep XRP afloat at $1, although bulls lost the bid. A correction came into the picture, forcing Ripple to explore the area under $1 again. The previous support at $0.9 played an...
Ethereum is back in red after a consistent rise toward $3,000. The breakout from last week's key support at $1,750 failed to overcome seller congestion at $2,900. Note that the ongoing retreat is not unique to Ether but appears to be pulling the whole market down. Bitcoin has been rejected at $40,000 and currently seeks support toward $36,000. The cross-border...
-MATIC has risen nearly 250% off its lows set 3 days ago -Long term trend held MATIC from further downside -Major resistance to break & hold is $2.33 MATIC also known as Polygon, has led the cryptocurrency market in terms of revival off lows set on the 23rd. MATIC has risen over 200% in a little under 3 days which has left the bears speechless. Polygon recently...
Bitcoin has proved to investors that it can come out of the ditch it fell into last week by gaining considerable ground to $40,000. However, increasing skepticism in the market limits Bitcoin’s ability to continue with the uptrend. BTC corrected from highs around $40,000 but secured support at $36,400. In the meantime, the price has recoiled above $39,000 and is...
Ripple intends to deal with high gas fees in the non-fungible token (NFT) marketplaces. Despite the NFT flooding the cryptocurrency space headlines, especially in the first quarter of 2021, high gas fees have almost crippled the sector. The drastic rise in the NFT culture is a story to reckon with; however, users are forces to accept dwindling interest due to the...
Cardano had an interesting last week whereby it rose into the fifth spot on the market despite the freefall in price. The staking platform boasts of a market cap of $48 billion and trails immediately behind Binance Coin. The trading last week was gruesome not only for ADA but the entire crypto market. From the recently traded all-time high of $2.5, ADA plummeted...
Ethereum gracefully rose from the support formed at $1,750 to trade near $2,800. The recovery was not unique to the pioneer altcoin but cut across the market, with Bitcoin rising from $30,500 to $38,000. However, the 50 Simple Moving Average (SMA) on the four-hour chart curtailed the bullish development, adding credence to the bearish pressure. An ongoing...
Bitcoin approached $30,000 again after failing to confirm last week's break above $40,000. The weekend session has been another bloodbath in the cryptocurrency market, sparking questions of how far the correction will go and if recovery is at all possible. The flagship cryptocurrency plunged back to $30500 but sustained the position within the relatively sharp...
-ETH falls nearly 56% after hitting ATH of $4400 -100 MA has held support for ETH since the start of 2021 -Major Resistance of $2438 needs to break & hold for revival to begin Ethereum experienced a near 4500% return the last year at its peak. A short two weeks later, the gains have fell to 2300%. ETH experienced a very fast run up from $2500-$4400 which was not...